Create a project contract [AX 2012]

By using a project contract, you can invoice one or several projects at the same time. The project contract also helps make sure that a uniform invoicing procedure is applied for each subproject in a project structure. Each project that will be invoiced must be associated with a project contract. Settings for a project contract apply to all projects and subprojects that are associated with the project contract.

A project contract can specify one or more sources of funding. This lets you split billing among multiple funders, set up funding limits so funding sources are not billed more than a specified amount, and configure funding rules for charging expenditures. For more information about project contract funding, see About project contract funding.

On the Action Pane, on the Project contract tab, in the New group, click Project contract.

In the New project contract form, enter a project contract identifier and name.

In the Funding type field, select whether the source for the funding is a customer, an internal organization, a public grant, or, if you have not yet identified the source type, on hold.

In the Funding source field, select the funding source that will provide funding for costs that are associated with this project contract. The options are based on the selection in the Funding type field.

Note

If project costs will be shared among multiple customers, organizations, or grants, you can assign more funding sources in the Project contract details form, on the Funding sources FastTab.

If the sales currency is not automatically entered in the Sales currency field based on the selection in the Funding source field, select the sales currency to use for the project contract.

Click OK.

In the Project contracts form, enter information about additional funding sources, funding limits, or funding rules. For more information, see the following section, “Add funding sources, funding limits, or funding rules to a project contract.”

On the Action Pane, on the Project contract tab, in the Maintain group, click Edit.

In the Project contracts form, on the Funding sources FastTab, enter information about each funding source that will bear a portion of the costs for the project contract. For more information, see Assign funding sources to a project contract.

On the Funding limits FastTab, enter options to define the scope of the funding rules so that a funding source is not invoiced more than a specified amount.

On the Funding rules FastTab, define how to allocate charges for the project contract and the part of the project that each funding source should be invoiced for. For more information, see Set up funding rules for a project contract.

Tip

A subproject can inherit the project contract of the parent project. If you change the project contract of a parent project, you can manage which subprojects are affected by using the Update subprojects form. This form opens when you modify a project that has one or more subprojects.